A CA-issued certificate confirming a rights issue's pricing basis is consistent with the company's valuation and board resolution, supporting the rights issue letter of offer.
This is to certify, in connection with the rights issue of ___ (PAN: ___) offered in the ratio of ___ vide letter of offer dated ___, the pricing basis, based on the valuation report, board resolution and books of account produced before us and the information and explanations given to us.
We certify that, to the best of our knowledge and belief, the issue price stated above is consistent with the basis of pricing disclosed to shareholders in the letter of offer and with the board resolution approving the rights issue under Section 62(1)(a) of the Companies Act, 2013.
Section 62 does not itself prescribe a pricing formula for a private/unlisted company's rights issue — the board has discretion, subject to it being fair to shareholders and properly disclosed. This certificate confirms consistency between the disclosed basis and the actual issue price; it does not itself opine on whether the price is fair value, which is a matter for the valuation report and the board's own judgement. This certificate does not constitute an audit opinion within the meaning of the Standards on Auditing.
This template follows the format published by the Institute of Chartered Accountants of India (ICAI) in the AASB Audit Working Paper Templates (June 2023), the authoritative reference for Indian statutory-audit documentation. Fill in your firm’s letterhead and the engagement details on the form above, click Download Word file, and you’ll get a fully formatted .docx ready to use.
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